MTA To Increase MetroCard Fares In 2015, 2017

NEW YORK - FEBRUARY 23: People swipe their metro cards in the New York City subway on February 23, 2010 in New York, New York. The Metropolitan Transit Authority (MTA) has announced that they plan to cut more than 1,000 jobs, including up to 500 station agents. The MTA employs around 70,000 workers and is currently facing a $383 million budget gap. (Photo by Spencer Platt/Getty Images)

Subway (Photo by Spencer Platt/Getty Images)

NEW YORK (CBSNewYork/AP) — More fare hikes will be coming for New York City bus and subway riders.

MTA Chief Financial Officer Robert Foran said in a presentation to the MTA’s board that future fare and toll increases will depend on the authority’s finances at the time. He said the authority had to cover health care, pension and other costs.

Bus and subway fares jumped in March to $2.50 from $2.25.

In addition, a 30-day unlimited MetroCard rose $8 to $112. A seven-day MetroCard went up a dollar from $29 to $30. A $1 surcharge was also instituted for those who buy a new MetroCard, rather than refilling an old one.